Italy hit hard by exponential rise in energy prices

Piazza Maggiore in Bologna in the dark during a demonstration by municipalities against soaring energy costs, February 10, 2022. AP - Massimo Paolone

Text by: Anne Le Nir Follow

2 mins

Italy stands out from its European partners by its massive imports of oil and natural gas which is used to produce 42% of its electrical energy.

And although the peninsula is a good pupil of Europe in terms of renewable energies, these are totally insufficient to protect it from an economic crisis whose consequences could be more serious than those of the pandemic. of Covid-19.

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From our correspondent in Rome

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To better understand why Italy is particularly suffering from soaring energy bills, it should be remembered that it has not used its nuclear power plants for three decades.

Indeed, the Italians decided, by popular initiative referendum, to abandon nuclear power in 1987, one year after the Chernobyl disaster which had a profound effect on them.

Then another referendum, after the Fukushima accident in 2011, confirmed their rejection of the atom.

Today, the main suppliers of gas, which represents 42% of primary energy consumption in Italy, are Russia: 46%, Algeria: 22% and Norway: 11%.

But, given the current geopolitical context, if Moscow decided to turn off the tap, the peninsula would be deprived of almost half of its needs. 

A hefty energy bill for industry

Concretely, the increase in the prices of raw materials such as gas and fuels derived from oil represents an increase in energy bills for industry which should reach 37 billion euros in 2022 against 8 billion in 2021, according to Confindustria , the Italian Medef.

For families, too, the bill will be salty.

They will pay at least 1,000 euros more this year for gas and electricity.

As for fuels, the most telling example is that of road transport companies.

In a few months, the price of a full tank for a truck jumped from 300 to 1,200 euros.

In Italy, road freight represents 83% of all goods transport.

Up to 7 billion euros in aid planned

The State has already released nearly 4 billion euros to suspend or reduce taxes and charges related to gas and electricity bills.

But to better support businesses, local communities and families, the government is planning new aid that could reach 7 billion euros.

Moreover, the political debate on nuclear energy is timidly revived.

But nuclear power remains a taboo subject for 67% of the population. 

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• Mario Draghi